InvestorQ : Is it true that India has touched record textiles exports in the FY22 period?
Mary Joseph made post

Is it true that India has touched record textiles exports in the FY22 period?

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Arusha Ray answered.
1 month ago
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That is absolutely correct. In fact, the Textile exports out of India for the fiscal year FY22 has managed to scale an all-time record of $44 billion. This can largely attributed to the export thrust combined with the production linked incentive (PLI) scheme for textile exports. This is intended to boost exports where India has the potential and a pedigree. Textiles exports for the financial year FY22 grew 41% over FY21 and 26% over FY20.

So, it is not just yoy growth on a low base but even on pre-COVID levels, it has grown. In terms of export destinations, nearly 27% of India’s’ textile exports were to the US while 18% went to Europe and 12% to Bangladesh. A small chunk also went to the United Arab Emirates. Nearly 40% of the total textile exports were accounted for by cotton textiles and it was followed close behind by ready-made garments at 36% share and followed at a distance by man-made textiles with 14%.

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